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is leading the charge. i have met with what i think will be the next president of china. we have delegations from china to come here. we're sending delegations there. this is not just business as usual. we're getting detailed committees and proposals, a couple of the key states. we want good coming this way. we want good going out way. -- goods coming this way and we want goods going out that way. >> are you doing anything like that? >> we have been working on the north-south access. we have a biannual that denver works on that brings people together for cultural, business, intellectual exchange and focuses on mexico and chile and brazil. one of the great things we're missing right now, it is part of the root of this mess about it -- immigration. our partners are right there. those old movies where people -- there was the girl next door, and the hero tries to fall in love with some likely candidates. she turns out to be loyal and ticks down her hair and -- takes down her hair and glasses. that is mexico. brazil and you'll get all those countries, we have to go look at china. we have to reach
with china, trying to get a--by 2020, seven years from now, an agreement in to reduce emissions by 17% by 2020 with china. it is aggressive. it is progressive, and you know, we talked a lot during the campaign. >> cenk: is he going to be the d block, the aggressive progressive. >> i don't know if he heard of that before, but you can have the politics of a wink and a nod is what we talked about during the campaign. i think this is that. he did not speak about climb change. it was brought up to him once after being re-elected. but now he's doing something and he's doing it quietly but he's doing it. that's important and that's what we didn't expect. >> cenk: that's probably the most encouraging thing i've heard out of all of this. he didn't make a big deal out of it. it appeared that he was laying low and he wasn't doing much. and china and india won't do because. they use the u.s. as an excuse. and since copenhagen voluntarily agreement emissions have done nothing but go up since last year. now that the president is reaching out to get a deal, we don't know if they're going to get it.
starbucks in china and the u.s. within two years. "overall, there's going to be coffee available. that'll help you on pricing, so it might be a good time to be expanding." starbucks' expansion plans aren't only meared number of shops. in the last 12 months, its acquired juice company evolution fresh, bakery la boulange, and is about to finalize acquisition of tea company teavanna. tensions remain high in michigan's capitol city, where legislation is about to be passed that could weaken the power of unions. protestors are furious. republican lawmakers moved quickly last week to enact "right to work legislation," allowing workers at unionized companies not to pay dues to the union, which reduces bargaining power right in the uaw's own back yard. the measure has already been approved by both chambers of michigan's legislature, and final enactment could take place tomorrow. republican governor rick snyder supports the legislation. if enacted, it would make michigan the 24th state with right-to-work laws. recent strikes at a california shipping port are over, but concerns of outsourcing p
if the situation changes. the leaders of russia and china continue to support the assad government. delegates from those countries did not attend the meeting. >>> 20 years after the u.s. closed its last military base in the philippines, u.s. troops are about to return in force. top officials from the two countries have agreed to expand the u.s. military presence in the south china sea. the goal is to serve as a counterbalance to any potential chinese ambitions in the region. u.s. assistant secretaries of state kirk campbell took part in talks with philippine officials on maritime security and cooperation. the united states is planning to send marine units, vessels, and warplanes to the philippines and expand the scope of the joint military exercises with the country. details on the exercises and the location of the deployment have still got to be worked out. >> we want a different kind of relationship based on mutual respect and equal partnership and that is what we have sought to do over the course of our meetings today. >> one candidate site is palawan island is a candidate. analysts say u.s. fo
. and then we'd like to improve our ties with china. as for the senkaku islands, we retain the stance they are japanese territory. we have to clearly show this policy to the chinese side. on the economic front, unless we change the current situation where annual income dwindles year after year, young people will not be able to have hope in their lives. we have to change this dire situation. that's our mission. we need to get out of the deflation as soon as possible, and that was part of our party's pledge. we will be compiling a sizeable suppleme suppleme supplementary budget. >> as abe prepares to move into the province's office, noda is preparing to move out. he's also stepping down as the leader of the democratic party. >> translator: at this time, the results of the general election are coming in, and the dpj has been handed a very stern verdict by the people. but it's the people's decision, and therefore, we take it seriously. all the results have been calculated. i have to assume responsibility for leading the party into this very serious position, and i've decided to step down
china, who are looking to part with lots of cash. >> he spent years living in china. he understands the language as well as the mentality of the chinese. for the past few months, he has been a sales consultant at frankfurt international airport where he assist chinese customers, for example, with the purchase of a camera. few speak english, although this customer is an exception. >> i am a part-time photographer. i use a cannot -- canon and nikon. >> many passengers arrive at the airport several hours before their flights and do a lot of shopping, but they often struggle with the language. his task is to act as an intermediary between shoppers and sales personnel. >> some are very surprised at first. they are not used to a westerner speaking chinese at the airport, but they are delighted. many want to browse on their own, first. the chinese have very different taste. >> weather it is luxury goods or everyday products, the chinese are interested in almost everything. they especially like the duty- free stores. this customer says she bought some cosmetics and jewelry. she says everyth
on the bottle. >> kind of nationalistic. that was a specific request from our owners in china. looking to bring parts of america to china. >> reporter: chinese investors bought this vineyard and now 90% of the wine is shipped to china. what do they want with a vineyard in napa valley? >> there's a big demand for luxury goods. rather than buying chinese-made products and sending our money l they're buying american made products and sending their money back over here. >> reporter: and the jobs stay here. >> yes. >> reporter: chinese firms flush with cash have invested $16.4 billion in the u.s. in the past decade. $1.3billion in california companies. $560million in just the past year. the chinese are boosting the golden states housing recovery. they bought one out it have every ten homes sold in the past year. >> compare to high end housing like in beijing, this is not that expensive. >> reporter: a student at the university of southern california. his parents bought him this yearly $1 million condo. they thought renting a dorm room was a waste of money. >> my parents decide to buy me a house as a
. >> excellent news out of china. pmi is an index or the ask people how confident you are feeling, indicating the fourth quarter of the year, china has seen a very marked pickup in economic growth. that is extremely good news because china had been having a pretty sluggish time of things over the course of the first half of 2012. this is leading the optimism that 2013 could break away from the economic doldrums. nonetheless [indiscernible] >> there you go. thank you very much. u.s. secretary of state hillary clinton is receiving treatment at a hospital in new york for a blood clot. she suffered a concussion earlier this month after fainting and falling down. the blood clot was discovered during a follow-up medical examination rea. >> hillary clinton earlier this month. it is believed it was while on her trip to europe that the u.s. secretary of state contracted a stomach virus that left her severely dehydrated. on her return home, she collapsed and severed a concussion. during a follow-up examination, doctors have discovered a blood clot. mrs. clinton is being kept under observation in this b
throughout china, even showed you numbers that said unlike yum, kentucky fried chicken, it hasn't seen any deceleration in china. these are my ears like i listen, these are my eyes, i've watched. howard schultz, call me crazy, made major fortunes investing with them, my bad. and then i heard the questions from the audience, i didn't even listen. what were they looking at versus what i was looking at? they were looking at john carter, i was looking at the new bond movie. one after another, they were all downbeat. is the expansion too rapid? is china any good? whether demand for expensive coffee is there. i was waiting for a guy to say, listen, that triple cappuccino stinks. if i were howard, i would tell them to take a hike. they were too negative versus what the company's up to. their pessimism? opportunity. starbucks was actually down. one time -- i have the apple ipad, you know, thing i'm like, wow, it's under 50. i mean, wow. terrific opportunity. ipad, i mentioned it, surprised one didn't come down and hit me over the head and knock me out. apple. if we're going off the fiscal cliff, w
line of mac computers in china, apple is set to bring some of its manufacturing jobs back home to the usa. is this a political move or is this a clear-cut economic manufacturing move? here to discuss is "forbes" columnist and china export gordon chang, the author of "the coming collapse of china." serious question, do you think actual's doing this for politics or economics? >> actually both. but when you look at china, though, their manufacturing days are over. americans are less produmore pr less prone to strike -- >> are you sure american works are less prone to strike? we've reported on this show a whole bunch of strikes, including the hostess twinkie companies, the ports of los angeles and out on the west coast. we have obama in the white house. the unions are going whild here. in all seriousness, i don't think unions are any more placid here than they are in china. >> but in china, workers go out on wildcat strikes all the time. foxconn which manufactures about 97% of apple's products, they've been really subject to labor troubles, from suicides to strikes. so i think appl
in china. they have a voracious appetite for natural resources and we're looking at new ways to get these in our own backyard, and maybe i will ask you this question, admiral. admiral, maybe i will ask you this question. how important is the china factor in america energy program's going forward? >> i will talk to doubt, but i would like to mention a few puffs things about this report that may not have come out in your opening remarks. we definitely advocating opening of drilling in the united states where we cannot, but there is a -- wherever we can, but there is a very strong part of this report that says it has to be done safely and we know how to do it safely. that is one contribution of those of us who have served in the armed forces, we do a lot of dangerous stuff in the armed forces, fuel, nuclear power, explosives. the way we do that safely is a high standards, rigid enforcement, and very professional inspectors to do it. we strongly recommend applying this model to regulatory body so that we can do this safely, so that we can do oil retractions safely. that we can do safel
, it sound relatively simple. make the united states more competitive with india and china by advancing more sophisticated jobs here at home. that's no easy task. but ro khanna said it can be done. he's joining us now to explain how. ro, it's great to have you on the show. you've written a book, "why manufacturing is key:: : ." entrepreneurism has a component of manufacturing that one cannot be separated from the other. >> exactly governor, thank you for having me on and thank you for the close read of the book. that's the point. when people think of manufacturing jobs is not knowledge jobs but if you go in these factories it requires complex understanding of machinery, lean manufacturing. i tell people being a lawyer is repetitive. a lot of these jobs are more creative and manufacturers that are succeeded are entrepreneurial. >> gavin: you make a point in this book and i think it's important that people understand, we were in a day of people and products and focus now is on what is missing meaning that manufacturing declines percentage terms are precipitous. china's rise is significant but
. we don't want them to be in that position where we can't do anything. >> where is china this china is so big. they could crush north korea. >> north korea gets 90% of their oil from china. if china cutoff the oil it would be in a different situation. but that's their best ally in the region. >> and china doesn't want north korea to end and the minute these people are going to move they are going to china and they don't want anything to do with themment. >> you will have this population that is so depressed they are moving to south korea and china. >> it will be like east-west germany, but with less scat porn. >> it is mostly my fault because it was in the 90s i dated kim-jong-il and it put him in a strange function. >> cash -- strange funk. >> that is the name of his next album. >> he is the sexiest man alive. >> we are missing the big story. in north korea they must have a large supply of ed schulz shows. >> i feel bad for that woman. now that she is international she is going to kim gung u.n's. >>> what are the perks of being pretty? first, if you have invisible camo, i wish we h
or deep pool. we think housing, autos, anything china related can be bought right here using weakness as an opportunity to buy and not sell as we work toward a deal. keep in mind that it might take until the super bowl when everyone by then would have seen the truncated paychecks and got to get a deal then. give them the failure of the government to rise up to a compromise on the cliff so far. you would expect a bigger sell-off today unless of course you recognize that a compromise is more easily reached in 2013 than 2012 and maybe a stopgap. if we wake for a kick the can deal, what's the point of selling? it's better to be a buyer instead of seller. compromise is far more likely than not despite last night's shenanigans. jack in florida, jack? >> caller: i read your book. i enjoyed it very much. >> thank you. >> caller: i'm following a sector rotation strategy with some of my investments. currently in the material sector. and hoping to catch more of the housing uprise. but with the fiscal cliff looming, i was wondering if you would advise more defenseless strategy like consumer stapl
into a trampoline or a deep pool. housing, autos, thinking china related can be bought right here. this is an opportunity to buy not sell as we work towards a deal. it might actually take until the super bowl when everyone by then will have seen their truncated paycheck and you have to get a deal by then. you would have expected a much bigger sell-off today unless, of course, you recognize that a compromise is much easier reached in 2013 than 2012. if we only have to wait a short time before we get a kick the can deal from the government, better be a buyer than a seller. compromise is far, far more likely than not, despite last night's shenanigashenanigans. jack in florida, jack? >> caller: i read your book. i enjoyed it very much. >> thank you. >> caller: i'm following a sector rotation strategy with some of my investments. currently in the material sector. and hoping to catch more of the housing uprise. but with the fiscal cliff looming, i was wondering if you would advise more defenseless strategy like consumer staples or something going into the new year. >> what i was thinkin
would turn a corner and he would be less aggressive. what i think is encouraging those is china'sresponse. it is still to be seen if they move to tighten chan k shuns. moving them into the world. >> it is important. >> you have lived in china. it is tpivotal. >> north korea all they have is military power. and what keeps them china. and it is such and important one. china is a tough relationship. it remained me of a game of chess. if you want to talk to them about human rights. then you are going to have to take something else off the table. you have to move formed in a way. it is an opportunity. >> it is kushl. china is important and the place that every one has to look to for guidance and all of these issues. the question here is can we believe that china is over the situation or are they behind the scenes and if they are, we are in big trouble. if we go to war ever there, we won't be able to finance it. we have $16 trillion in debt. back to the fiscal cliff that we went by. >> it jumped the shark. i'm cutting you all off. carole, abbey and charles. thank you. you have been on
worked until 66, but i was forced into retirement after my company said most of the job to china. all you have to do is look around and see owns all the gas stations and 7-eleven's. those people are the rich ones that come from their countries and turnaround and bring their servants with them. that is who is running those businesses. host: what do you think needs to happen in the next couple days before the end of the year? caller: one has to happen if the republicans have to agree on bringing the jobs back from overseas. the democrats could maybe agree on cutting back on some of these food stamps, especially for people that have come here and have never worked for the country and don't deserve it. host: on twitter -- another story this morning, this from "usa today." we are still getting your thoughts for the next five or 10 minutes in this first segment of the washington journal on john boehner's "plan b" that was released yesterday in case the negotiations break down over the fiscal cliff. william from north carolina is on our independent line. caller: i was calling to tell you that th
still get a brookings conference last month about china's legal system. first we will hear a brief introduction of justice breyer. >> for 20 years i've been advising the very senior chinese roughly half of that on financial and economic matters and the second half on a whole variety of topics. about ten years ago i remember the first time i met jerry cohen. we started talking about the rule of law, and i said to him at the time what strikes me about the topic is other than the one occasion i can think of and i can only think of one other than the occasion of was in the state department and bill clinton was president at this topic in my view has never gotten the attention the most senior level discussions has been treated like a technical topic with technicians and not as a fundamental topic but in the relations of the two states. in my own experience i always say that the chinese leadership, the most distinctive characteristic to me is they are systematically opened. that is to say the basic modus operandi is any particular topic let's look throughout the world at the best ideas th
owners in china. china overall is looking to bring parts of america to china. >> reporter: in 2010, this vineyard was up for sale. chinese investors bought it. now, 90% of the wine from here-- that's 9,000 cases-- is shipped to china. what does a chinese company want with a vineyard in napa valley? >> there's a big demand in china for luxury goods, for goods that are scarce, and for goods that are well made. rather than buying chinese-made products and sending our money over there, they're buying eir ican-made products and .ending their money back here. >> reporter: and the jobs stay here. re.and the jobs stay here. >> reporter: chinese firms, flush with cash, have invested $16.4 billion in the u.s. in the past decade, $1.3 billion in california companies, a record $560 million in just the past year. the chinese are also boosting the golden state's housing recovery. they've bought one out of every ean homes sold in the past year. >> compared to the high-end thiing like in beijing, this is not that expensive, though. r: reporter: di meng is a student at the university of oruthern ca
and tolerance. the pope also prayed china's new leaders will shington's ability to avert the fiscal cliff. on monday before closing for christmas, the dow lost 52 points, while the nasdaq dropped eight. >>> new taxes to help pay for the affordable health care act take effect january 1st. the average american won't be spending more money to the irs. the wealthiest 2% of americans and the health care industry will pick up most of the tab. >>> milk is a staple in every home, ask starting in the new year you could be paying twice as much for it. a government subsidy expires at the end of this year. unless congress extends it, the cost could skyrocket to above $7 a gallon, putting a major hirchlg on families already struggling to make ends meet. >>> bad news for retailers. holiday sales proved this year it was the weakest since 2008. one report put the increase at just 0.7%, are far below analyst predictions of 3% to 4%. superstorm sandy and the looming fiscal cliff disrupted the shopping season. >>> and if you are returning my holiday gifts, have your right and a lot of patience. usa today re
is there and the change in our fiscal situation. >> china has been driving hard to grow its naval capabilities backed up with a strong aerospace capability. you were the seven fleet commander. when you look at china and all the things in the chinese navy in particular, what do you see when you look at the chinese navy in terms of capabilities they're doing? >> i see a navy that's growing beyond a series of somewhat asymmetrical if you will approaches in its missions to something which frankly tends to be more conventional. what i mean by that, if you look at their shipbuilding plant, they're building a certain number of nuclear submarines similar to what the soviets did way back when as they look at what they need to protect and to be able to, if you will, operate forward in their own context. they're looking -- they build sort of dvgs like we did, missile destroyers with increased tonnage. they're building an aircraft carrier. that's a complex situation. you're into a new realm, you know. operating an air waing. every plane that takes -- air wing. every plane that takes off has to land. very complex. t
obviously does not want to stay there. investors took heart from the latest data out of china. growth is accelerating. no more that owning our process here. almost 10%. beating analyst estimates. copper moved higher. it is an industrial metal. money flowing into stocks. minors like numa mining. then, of course, the announcement that they would be taking a big acquisition. today, it is up more than a percent. cliff natural of about 5%. we should not forget mcdonald's. better same-store sales than expected. coming up in just a few minutes. cash is king at ethan allen peered the furniture retailer throwing a lot more cash at shareholders. they are announcing a one-time payout this month alone. we will get the inside story from ethan allen chairman and ceo farooq kathwari. you have to hear about his plans for china. international expansion is a huge priority. the chinese may like that product. for once, the market riding around. let's get right to the floor show. traders at the new york stock exchange, cme and imax. what do you think happens on wednesday? >> i think most traders and the e
. >> turmoil in italy. berlusconi throws his hat in the ring. retail sales numbers out of china, hoping the economy is in fact on an upswing. >> apple, enthusiasm. jeffreys trimming its price target to 800 from 900, as apple shares do trade lower in the pre-market. we'll start with mcdonald's, posting better than expected november same-store sales, global comps up 2.4. u.s. same-store sales up 2.5, offered by breakfast offerings, including that cheddar/bacon/onion sandwich, as melissa mentioned. jim? people are saying the u.s. maybe is making a turn here. >> i find mcdonald's is levered to new products, levered to menu technology. they do invent things. my hat's off to janet. they had this number last week. reminds people, again, they've been right down, and up. mcdonald's is one of those things where joe asked me from squawk when we were talking, i said, i think this is a for real term. if they continue to innovate. i may this may not be your cup of tea, burger, but innovation s higher. >> they tried to sell it to consumers as opposed to their extra value menu, which is a little bit hi
. china state picc group raising more than $3 billion. it's the territory's biggest ipo in into years. still to come, didn't have to price it toward the bottom of the indicative range, maybe a sign that the appetite from the listings remains week. and managing liquidities also a priority. this week the pboc switched back to pumping money into the banking system after withdrawing more than $40 billion over the last month. reports suggest possible $1.8 billion is a moderate amount compared to what the pboc is used to putting in. andrew, very strong session yesterday for shanghai. flat today. after a period of underperformance, will it turn around or not going into 2013? >> well, i think in the recent couple of weeks actually, we're seeing quite positive economic data coming out of china. pmi is improving. and consumer sentiment is the highest. and for the past five months. but this have not translated into a more robust market. this is because for the past two quarters, there is all bad news. so there was kind of negative feedback loops that caused the market to be oversold. and then it
.s. has slapped duties on wind turbine towers on china on price its says were unfairly cheap. this comes as washington welcomes a high-level chinese delegation led by the vice premier. his team is in the u.s. to talk trade and economy. he's expected to meet with u.s. treasury secretary tim geithner tomorrow. wang is the first official from the new leadership team to visit with the u.s. for more on the impact and implications of this, let's speak with frank ching, adjunct associate professor at the chinese university of hong kong. frank, hi. the first news that we're getting out of this appears to be more import duties s. this going to be the theme of u.s./china relations, or do you expect these meetings to be more of a thaw? >> well, i think that these are the first meetings since the new leadership in china was installed. and since president obama saw -- well, won second term. i think both sides want to make use of this occasion to improve their relationship. so this joint annual meeting is a platform, and i think that they will probably be able to achieve some progress on issues of con
, with russia and china, containment when it came to russia was countering their expansive capabilities. >> rose: right. >> our own -- when it came to their nuclear capability we were talking about deterrence. >> rose: right. >> and so i think first we want to contain iranian influence in the region, but i think the question that people are -- that what the president is really addressing is, or would we be content with deterrence? >> right. >> and there i think the difference in the ayatollahs and their religious, their they cratic approach to the world, their threats to destroy israel make them a more worrisome, significantly more worrisome possess sorry of nuclear weapons than other nuclear states. >> rose: because they have a different decision al type structure. >> yes. >> rose: from russia, and the soviet union from going into europe once again, deterrence is mutually assured destruction. and so then, does the question of value and life, different because of a culture that can produce suicide bombers mean that there -- means that will not work in the end or do you say no nationable and the
>> hewlett-packard, have your exits ready for yourself. >> bk? >> if you want to play china but don't want to buy the a shares, look at taiwan ewt. government is supporting that market. >> i'm melissa lee. thanks so much for watching. we have the ceo of lu lu. see you back here tomorrow night for more >>> i'm jim cramer. and welcome to my world. you need to get in the game. going out of business and he's nuts, they're nuts! they know nothing! i always like to say there's a bull market somewhere, and i promise -- "mad money," you can't afford to miss it. hey, i'm cramer. welcome to "mad money." welcome to cramerica. other people want to make friends, i'm just trying to save you a little money. my job is not just to entertain but to coach you and teach you. so call mel at 1-800-743-cnbc. it is so easy to be negative right now! >> boo! >> incredibly easy. and when the gloom lifts. >> the house of pain. >> it almost feels like a reprieve from some sort of stock market death sentence. as it did today with the dow climbing 83 points. the nasdaq declined .77%. largely because of apple, mor
at the first north american exhibit of work by china's ai wei wei. brown: antique wooden stools from the chink dynasty. a video documenting changes along a major street in beijing an ancient vase with a modern-day logo. now on display at the smithsonian's museum in washington d.c. in an exhibition called "according to what," these are the works by the chinese artist away way. a prankster who can make a tea house literally out of tea leaves and represents the surveil-camera that watches him at his home in china is a marble sculpture. he's a visionary who helped design the bird's nest stadium for the application and whose use of social media is shifting the boundaries of art and activism and a dissident. he took a picture and tweeted it even as he was being arrested in 2009. and then spent 81 days in prison, was beaten and made the x-ray image of the damage he suffered into an art work. >> for me living in today's world, if you live in china, it's very hard to do a work which is not... which does not reflect or suggest the other possibility and meanings. all the works i do which connect or refle
it will be a buying opportunity, we like companies that have good market share globally especially if china starts to grow a little bit and we like the european companies that were beaten down particularly the large caps, that we will take advantage of the emerging market, china moving up. we like anything associated with housing and they have been performing very well even on days when the market has been selling off and you can see the strength of their but the warning is if we go off of this, everything is subject to more sell-offs. perhaps more bargain hunting. adam: fiscal cliff negotiations are moving as deadly as rush-hourrtraffic in boston which can be a nightmare. you have a good new year. let's hope they get a deal done. all the best to you. >> thank you. adam: it is a quarter till time to check stocks again. every 15 minutes we doing here. lauren simonetti will do that at the stock exchange. >> volume is light but traders -- we saw a triple digit loss for the blue chip average down 89 points, declined across the board, volume decisively lower, the margin between gaining and losing stock
the president takes the airways, but we have to focus on apple. what went wrong in apple in china. where are they huge crowds of people tripping over themselves to get the new iphone five? after all, 300,000 reorders. 300,000. it sounds like a lot, but there are some are calling this launch this news, even a dad. will this further erode the stock which has plummeted 28% since that september? we decided to go beyond this. of the chinese over it? some months, the apple turnout, not at all what it was cracked up to be. investors are voting with their wallets. apple shares are down. just a couple of percentage points. important to know this is trading in a nine month low. add another 4 percent today, the negative comments adding to the selling pressure. the firm cutting its 2013 estimates and lowering its price target. we know that maybe the huge ones are not so huge in china because apple instituted an online reservation system. folks, let's not ignore it. the allies did not even come close to this, the launch of the iphone four in the u.s. when people waited all night long, lines wrapped a
the bank of china to finance whatever part of the grant that was given to a123 batteries, we still have to pay that back. the taxpayers are still on the hook for baying back the deaf -- paying back the deficit-spending portion of that money even though it's now long, long gone. megyn: so we borrowed from china so that we could offer stimulus. we gave part of the stimulus to a123. a123 spent $100 million plus of the money, failed to succeed, and now that, those assets are going to china too. >> well, when you say it that way, megyn, you make it sound like it's not very much fun, i mean, my gosh. [laughter] megyn: china makes out well in this deal. i don't know about the american taxpayer though. >> they're doing pretty well in all of this. and the problem for the president today is his whole idea is i'm going to go to detroit and talk about how my economic strategy is working and that what we need to do is increase taxes on the top earners so that we can take that money and stimulate the economy. and as he says, invest in the middle class. and as he says, keep the tax rates down for thos
.s. in general is looking positive. and the u.s. is creating a lot more jobs. china is still positive in the fourth quarter. china is going to show a slow and steady improvement. so we need those. >> higher expectations stronger in the likes of taiwan, india and brazil. let's go back to where you say they're weakest. greece, italy, spain, the netherlands. this is a very weak feature, indeed. how bad in it? >> it's bad. the eurozone is the global economic problem now. if you look at asia where i just returned from, both countries are feeling optimistic. but they seem to be inwardly focused now by being a triangle of china, india, indonesia. we're not seeing a great benefit into europe as we did before. for instance, germany is looking pretty pessimistic. based on its lack of export performance to places like china. >> yeah. when the bundes bank came out and shortly downgraded forecasts, how is the employment picture? if you've got a relatively healthy china and the u.s. consumer bounce back, wouldn't that help germany? >> it certainly would. germany is relatively flat in terms of the e
of china selected new leaders, the secretive process produced a new president, l.a. lakers fan married to a rock star. but china's foreign policies are likely to stay the same. number five, moment morsi, islamist group, became president of egypt. as his predecessor, dictator ousted by his people, went on trial from his hospital bed. morsi impressed the west by helping to broker the cease fire that ended an outbreak of warfare between hamas and israel. he then disappointed many by aawarding himself sweeping power s at home, triggering new outbursts in tahrir square. number four, israel and hamas brought fuel on the fiery west in the region. one side firing rockets. for the first time, israel felt vulnerable in jerusalem and tell aaveev. before the big guns of diplomacy helped to broker a cease fire. number three in europe, greece was the problem child that spent too much, saved nothing and threatened to take down the euro. new leadership, pay cuts, higher taxes as their weary government begs for more cash. committing to save the euro. it lives on, but for how long? >> the deadliest mont
out of the way. it's laissez-faire capitalism. but china is a communist country but it's also a capital country, just a different definition of capitalism, and singapore, where there's a strong collaboration between the government and the market, you have a different form of capitalism. places like brazil and india where there's a big social agenda, you have a different form. anyone europe, southern europe, northern europe, different forms, but in northern europe, the informed capitalism, where the government believes in strong social safety net, believes in paying for health care, believes in playing a role in determining what businesses grow or fail, and they're creating more jobs than we are. so we have to be careful when we, as we sometimes do in the united states, get up on our high horse and say we understand capitalism. actually what's going on in the world is a competition between different versions, and if our version produces more inequality, produces less growth, it's -- is seen as less fair and others are seep as more fair and producing growth, who do you think is
is the october trade balance, with american importing a record amount of stuff from china. that increased our trade deficit to $42.2 billion. u.s. exports fell 3.6%, the biggest drop in almost four years. imports also fell, down 2.1% to the lowe in month n ll street,he dow gained 78, the nasdaq rose 44, the s& up nine. >> susie: our next guest says the fed's stimulus policies have been good for the u.s. economy and the markets. he's mike holland, chairman of his money management firm, holland and company. >> susie: mike, you heard erica's report. which do you think is more important for investors, fed policy action tor the fiscal cliff talks? >> right now, susie, the fiscal cliff talks are clearly the item dejure for the stock market. i think most people expect exactly what eric miller was talking about from the fed. and bern bueno ben bernanke hasn transparent and telling people well in advance what he is going to do. the $85 billion should continue building up for our taxpayers balance sheet. >> susie: how does all of this play out in the markets. all of the bond buying, companies are stil
wind and solar makes no sense. also five years ago we thought that china and india and other emerging economies might sign onto emissions reductions. and, therefore, that if we reduced e many uses -- emissions, perhaps global temperatures would be reduced. and i don't take a position on whether manmade emissions cause global warming or not, but if we are reducing our emissions and china and india which make up 37% of the world's population are not doing so, we're not going to have any effect on global temperatures. and in the first chapter of the book, i talk about geoengineering solutions that nobel prides-winning scientist paul krugman thinks can reduce global temperatures if we just do it on our own such as spraying clouds with water or painting roofs white to reflect the sun's rays. what we're doing with the $12 billion that we're spending on alternative energy is pushing people into cars they don't want to buy, we're raising electricity costs, we are pushing -- we are getting rid of incandescent lightbulbs in favor of flour rest sent lightbulbs. and the cost of this falls disprop
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